RE: Bitcoin Surges Back Above $8500 As Goldman Doubts Cryptocurrency Survival
Bitcoin and the broader digital currency market are on a steady rally after a crazy week of declines, with bitcoin exceeding the $ 8,000 barrier in today's trading.
Tuesday's bitcoin gains kept this momentum in early trading on Wednesday, with gains of 25% in value over the past 24 hours, from the time of publication. After falling below $ 6,000 (on the Bitfinex platform) early Tuesday, the currency rebounded to $ 8,238 at 11:00 GMT.
For many, the improvement came as a result of discussions at the US meeting on Tuesday that raised the possibility of digital currency regulation. The discussions, which publicly publicized the intention of SEC Chairman Jay Clayton and CFTC Chairman Christopher Giancarlo, to focus supervisory efforts on the currency support operations (ICO) and the regulation of trading platforms on Federal level, rather than current laws at the state level only.
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